Economy of lobster

How many lobsters are consumed in the U.S. annually?

With the coming of reliable freezing technology in the 1950’s and better methods of transportation to the US, a new and more profitable fishery was developed utilizing the Caribbean Spiny Lobster, Panulirus argos. Locally called crawfish, lobster quickly displaced conch as the country’s most profitable export.

Exporting lobster was first tried in the early 1900’s as a canned product and again in the 30’s, but neither business lasted long due to shortages of canning materials and the interruption of two World Wars. By 1952, frozen tails were being shipped regularly to Miami by air, and until 1966 an average of 200 tons were exported every year.

But the lobster fishery was not as hardy as the conch fishery. Premium prices paid for lobster tails and rapid strides in fishing technology (snorkeling gear in the 50’s, outboard engines in the 60’s and bigger engines in the 70’s) brought the average yearly catch to 300 tons by the 70’s, but it started to decline drastically.

At the same time that catch and export limits were put on the conch fishery, they were put on the lobster fishery, too. Only free-diving was allowed and spearing was outlawed. Size limits were mandated and a closed season was instituted to allow the lobster populations to recover from year to year.

After several years of fluctuation in the catches and export of lobster tails to the US market, lobster exports are now relatively stable. Each year about 600,000 whole lobsters are landed. This yields about 175,000 lbs of lobster tails for export and 90,000 lbs for local consumption. A recent regulation change that outlaws the stockpiling of frozen lobster during the closed season will probably also help to control poaching and the landing of undersized crawfish at the end of the season.

Lobster has a set open and closed season. In order to allow lobster stocks time to reproduce, there is a closed season from April 1 until July 31, but there is no quota or maximum number within the season.

How much lobstermen can get for one pound of lobster?

Lobstermen this summer are getting paid as little as $2 to $2.50 a pound for their catch -- the lowest level in 30 years -- but the price escalates to $17 a pound or higher by the time a customer orders a lobster in a restaurant

Lobster monthly cost?

8 lobsters @ $10.00 a pound $80.00
Cleaning supplies $5.00
Chemicals, Filter $5.00
Misc. repairs* or cost $20.00
Average Monthly Cost $110
Why are landings high?
There are several theories, all guaranteed to generate controversy wherever there are two or more lobstermen:
Global warming. The water temperature along the Maine coast, for example, has increased significantly over the past few years. Are lobsters being attracted by the warmer temperatures?
Fewer predators. Cod, the main predator of lobsters, is much less abundant than it used to be because of overfishing by ground fishermen trawling with dragger nets for bottom-dwelling fish.
Better detection. Electronic gear on most lobster boats can virtually "see" underwater. They can identify bottom type, topography, and depth, making the lobster's haunts easier to locate.
More fishermen. When there are more lobstermen, it stands to reason there will be higher catches, although each fisherman gets a smaller slice of the pie.